OSIM launches India operations  ( September '4,2004, HBL)

OSIM International Ltd, the $287.4-million Singapore-based manufacturer of lifestyle and health care products, on Friday launched its operations in India with an exclusive tie-up with the Delhi-based Paramount Surgimed Ltd.

"We have earmarked Rs 25 crore over the next three years in setting up 40 outlets across India and promoting the OSIM brand. OSIM India plans to open 10 outlets by the end of this fiscal. After Delhi, we will target Mumbai, Kolkata, Punjab, Bangalore and Chennai," said Mr Shaily Grover, Managing Director of OSIM India, after announcing the launch.

OSIM International currently operates in 20 countries with over 520 outlets and is striving to become a global leader in lifestyle and health related products. The company also unveiled its Massage Chair called `iSymphonic', which has been voted `Invention of The Year' by Time Magazine.

OSIM's Indian operations will focus on health, hygiene, nutrition and fitness. OSIM health lifestyle products include massage products (massage chairs, foot reflexology rollers, handheld massagers), nerve stimulators (iSense, ProTherapist), diagnostic products (blood pressure monitors, VF scan, weight & measuring scales) and nebulisers.

Mr Ron Sim, founder & CEO of OSIM, said: "The Indian economy is one of the fastest growing markets in the world. India has a vast potential for such lifestyle and health related products due to its largest middle and high-income segment of the population. This will open new business opportunities and further strengthen business relations between Singapore & India."

OSIM India would be introducing the "Health Focus" products, including iSymphonic Chairs, iMedic Chairs (to massage acupressure points) and the Millennium Chair (relieves aches and stiffness).